2011 Summary can be downloaded HERE - FT Live

Session Takeaways
The panel comprised of eminent regulators from India and across the world
26
Post the financial crisis, globally, regulators have taken a cooperative approach on macro policies, and
regulatory frameworks are being revised accordingly. One of the key lessons from the financial crisis is to
create countercyclical capital buffers during good times through fiscal and monetary policy measures
Overall the panel believed the world is a safer place today than in 2008. However, the key risk today is the
sovereign risk, and fragility within the intertwined financial system. Restoring the risk free status of the
sovereign will be a huge challenge
New regulatory framework is already under implementation and covers various aspects like quality of
capital, trade of complex products, liquidity ratios etc.
Same regulations produce different results in different economies, and a key reason for this has been
different implementation and supervision mechanisms adopted by various countries. Further, the panel was
of the view that identifying systemic risks being developed in the financial system will be a major challenge
for the supervisors
The Indian banking sector is better capitalized and is at an advantage as compared to its global counterparts